Setting the right price ________
A) means simply calculating the cost of production and tacking on a markup for profit
B) does not impact how consumers view a product
C) plays no role in determining whether consumers will purchase a product
D) involves setting a specific pricing objective after establishing the price point
E) can help differentiate the product from the competition
E
Explanation: E) Setting the right price is more than simply calculating the cost of production and then tacking on a markup for profit. The price often impacts how consumers view a product and may determine whether they will purchase it. The price also helps differentiate the product from the competition. Setting a specific pricing objective is important to do before establishing the price point.
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